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Daily Cable Analysis

  • #5,141
  • Feb 1, 2007 2:00am Feb 1, 2007 2:00am
Quoting Qwiktrader
What the heck I waited all night for this thing to go up and when it went down I closed out and opened a short now I'm really happy to see a -25 pip in my window. Dang mms!
Hang on. It will come back to you the way it has been lately.
  • #5,142
  • Feb 1, 2007 2:13am Feb 1, 2007 2:13am
I waited an hour for the drop towards 9620 which i was sure would happen, as usual GMT time caught up with me and i needed my sleep so missed 15/20 pips

There's a Nice upward trendline forming on the 6 day 15 minute line chart, the Candles are closing very close to this line, although it may be broken soon
  • #5,143
  • Feb 1, 2007 2:35am Feb 1, 2007 2:35am
...still think its headed north...
its just money
  • #5,144
  • Edited Feb 2, 2007 5:48pm Feb 1, 2007 2:45am | Edited Feb 2, 2007 5:48pm
I added a Triangle on the Left Side of the Circle to match the right side Triangle.

On the Chart I have a Red circle showing the price exit from the Inward Triangle and penetrating the external of the Triangle. The price went to 1.9658 during the Frankfurt hour and remained inside of the Outer Circle which still remains within the price range since this afternoon US times.

Once the price exited the Triangle you can see it went up and back down to support on this line.

The next test of this line/support would be 1.9639 for a 3rd test of this line, it may not hold this time, and the price could re-enter this Triangle.

Then I would be watching for the Frankfurt Low at 1.9620 and the exit of the Triangle and the Circle on the Bottom edge for a Short position.

Usually once the Frankfurt Low is breached on the 5 Minute (clear) that would be my indication to Enter a Short.

I would need to see a Closed Candle above the 1.9660 price range to exit the Interior of the Circle, then I would consider a Long from there.

This would also be above the Frankfurt High at 1.9658, and a 5 Minute Candle close - clear of this line with no body or wick touching would also signal a Long.

I will wait to see if price continues upward near this area before entering 1 lot to test this strategy, or the lower area for a Short.

The price at 1.9640 is the exact middle of the Frankfurt High and Low.

We are still awaiting a nice mover either way.
  • #5,145
  • Feb 1, 2007 2:47am Feb 1, 2007 2:47am
Quoting de123
...still think its headed north...
Me 2

http://i2.photobucket.com/albums/y28/cesarnc/feb1.jpg
  • #5,146
  • Feb 1, 2007 2:58am Feb 1, 2007 2:58am
The Low was 1.9620 and the High was 1.9658.

The 5 Minute Fibo for this move would be 61.8% - 1.9635. The price has come down to 1.9633 to clear this Fibo Retracement.

This is not saying that we are going to be heading back up, but from the look of the Frankfurt hour I would say the strength was pressing downwards.

Frankfurt opened at 1.9645 then went down 25 pips, a stronger than usual drop for this period.

The price recovered quickly and jumped straight up for 38 pips, and only 13 pips above the Open price.

This move up may only be a head fake pulling everyone into a Long, and eventually the price could go down once again below the 1.9620 are mark for a second straight Downward London Session.
  • #5,147
  • Feb 1, 2007 3:03am Feb 1, 2007 3:03am
few movements this morning, lets see U.S. opens with a bang.
  • #5,148
  • Feb 1, 2007 3:09am Feb 1, 2007 3:09am
Quoting fxpinoy
few movements this morning, lets see U.S. opens with a bang.
Is there a news report here in 20 minutes?

The 1.9636 is holding low mark here, the upcoming news should bolt us into the actual direction soon.

Somebody - News? or should I go to sleep?

Thanks.
  • #5,149
  • Feb 1, 2007 3:14am Feb 1, 2007 3:14am
it may go sideways for a while, but i think

500 was tested 2 times, and i give more weight on psiho number 500...

  1. direct drop from 99 to 500, (failled to broke S)
  2. retraced to 700 (failled to broke R)
  3. broke 600 S, went to test 500 (failled)
  4. broke 600 R, went to test 700 (failled)

  1. 600 should act as S aiming to broke 700
  2. if 720 broke 700 will act as S, aiming to broke 800

this is 8h strategy....my point of view...

its just money
  • #5,150
  • Feb 1, 2007 3:16am Feb 1, 2007 3:16am
Quoting monarch
Is there a news report here in 20 minutes?

The 1.9636 is holding low mark here, the upcoming news should bolt us into the actual direction soon.

Somebody - News? or should I go to sleep?

Thanks.
There's UK Manufacturing PMI in 14 mins.
Tra-X
  • #5,151
  • Feb 1, 2007 3:17am Feb 1, 2007 3:17am
Quoting monarch
Is there a news report here in 20 minutes?

The 1.9636 is holding low mark here, the upcoming news should bolt us into the actual direction soon.

Somebody - News? or should I go to sleep?

Thanks.
I don't know if this is a mover...

Now we'd better watch the carry trades (again) while USDJPY is pressing the 120.5 support, GBPJPY is pressing a apparently strong support at 236.4.

As majors/JPY had played a role here recently, we may go down with them here...
  • #5,152
  • Feb 1, 2007 3:18am Feb 1, 2007 3:18am
Quoting monarch
Is there a news report here in 20 minutes?

The 1.9636 is holding low mark here, the upcoming news should bolt us into the actual direction soon.

Somebody - News? or should I go to sleep?

Thanks.
UK manufacturing PMI coming out at 4:30 am New York Time
  • #5,153
  • Feb 1, 2007 3:20am Feb 1, 2007 3:20am
Appreciate the Heads up.

I will attempt a news strategy here in 10 minutes, Price is bouncing no where right now. If the news does not move this thing, then I am moving to bed.

We Shall See.
  • #5,154
  • Feb 1, 2007 3:22am Feb 1, 2007 3:22am
Quoting monarch
Is there a news report here in 20 minutes?

The 1.9636 is holding low mark here, the upcoming news should bolt us into the actual direction soon.

Somebody - News? or should I go to sleep?

Thanks.
Monarch, UK Manufacturing PMI results in 8 minutes. Prev=51.9, Frcst=51.9
  • #5,155
  • Feb 1, 2007 3:31am Feb 1, 2007 3:31am
There is no big expectation on this news but if the figures do come out substantially lower or higher this can move the pair as much as 50 + pips but the move may take 20 to 30 minutes to fully open out. However this may give a direction to the currently undecided movement for the pair.

  • #5,156
  • Feb 1, 2007 3:33am Feb 1, 2007 3:33am
Quoting frankscook
Monarch, UK Manufacturing PMI results in 8 minutes. Prev=51.9, Frcst=51.9
Waiting too, i hope it's move gbp
With Regards, MKTrader Not Risk Not Gain!
  • #5,157
  • Feb 1, 2007 3:37am Feb 1, 2007 3:37am
With these pin-bars, nobody wants to be the first to place the ticket

http://i2.photobucket.com/albums/y28...nc/jan31-2.jpg
  • #5,158
  • Feb 1, 2007 3:38am Feb 1, 2007 3:38am
The number came in slightly stronger at 52.8

Looks like a non starter so far.
  • #5,159
  • Feb 1, 2007 3:39am Feb 1, 2007 3:39am
Quoting adam141
There is no big expectation on this news but if the figures do come out substantially lower or higher this can move the pair as much as 50 + pips but the move may take 20 to 30 minutes to fully open out. However this may give a direction to the currently undecided movement for the pair.
Unfortunately I have been watching the charts for 18 hours, and I am beat.

I will leave this up to you, I have a meeting in 4 hours.

Hope everyone does well, p.s. need to break 1.9658 for a long in my book.

C U Later!
  • #5,160
  • Feb 1, 2007 3:41am Feb 1, 2007 3:41am
Quoting monarch
Unfortunately I have been watching the charts for 18 hours, and I am beat.

I will leave this up to you, I have a meeting in 4 hours.

Hope everyone does well, p.s. need to break 1.9658 for a long in my book.

C U Later!
Well you might as well go to bed, I am thinking of doing the same.
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